Sam Bankman-Fried, the disgraced founder of the FTX exchange, has been transferred to a medium-security prison in Victorville, California. The move, confirmed by the Federal Bureau of Prisons (BOP) inmate locator on Wednesday, follows Bankman-Fried’s sentencing to 25 years in November 2023 for defrauding users. His crimes have been classified among the most significant U.S. financial crimes in the nearly 250-year history of the country.
Prior to his transfer, Bankman-Fried was held at the Metropolitan Detention Center (MDC) in Brooklyn, N.Y., for over 18 months and spent two weeks at an Oklahoma Transfer Center. His move to Victorville Medium II FCI is significant, as medium-security prisons are known for offering lower quality of life and higher risks of violence than their lower-security counterparts.
Federal prison consultant, Christopher Zoukis, described West Coast prisons as being “a lot harder.” He explained, “There’s a lot more gang involvement, and a lot more prison politics than at East Coast or mid-Atlantic mediums.”
Victorville, also known as “Victimville” in some circles, is described as “a very political yard” where inmates are expected to affiliate themselves with racially-oriented groups, known as “cars” in prison slang, for personal safety. An online information center developed by Zoukis’s consultancy highlighted the significant level of violence at FCI Victorville Medium II, with one respondent noting that fights and stabbings are regular occurrences.
Historically, the prison has seen its share of violence. In 2017, an inmate was charged with attempted murder for stabbing the warden with a shank. In 2023, three inmates were found guilty of second-degree murder related to a 2013 incident.
The facility, housing 1,434 inmates, is one of three prisons in the area. Inmates live in cells accommodating two, three, and four persons. Among the most notorious inmates is Mohamed Osman Mohamud, who was sentenced to 30 years in 2013 for planning to detonate a vehicle bomb at an annual Christmas tree lighting ceremony in Portland.
Despite his sentencing, Bankman-Fried maintains his innocence. “I don’t think I’m a criminal,” he recently said, as he works toward appealing his conviction. In the meantime, he will have access to an electronic law library and the opportunity to participate in activities such as basketball, leather working, art, and Foosball. The prison also offers educational courses in Microsoft 2010.
Regardless of his personal views on his conviction, Bankman-Fried’s transfer to Victorville signifies a significant shift in his life circumstances, as he moves from the world of financial exchanges to the harsh realities of life behind bars.
